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There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus.

Fund Expense Ratio :

0.59%

YTD

1-YR

3-YR

5-YR

10-YR

Since Inception 01/31/2011

w/o sales charge

0.70%

0.70%

2.61%

4.92%

-

5.81%

Lipper Category Avg. California Municipal Debt Funds

0.50%

0.50%

2.09%

4.33%

-

-

Bloomberg Barclays Municipal Bond Index

1.28%

1.28%

2.30%

3.82%

-

4.34%

Fund Expense Ratio :

0.59%

Fund Expense Ratio :

0.59%

YTD

1-YR

3-YR

5-YR

10-YR

Since Inception 01/31/2011

w/o sales charge

0.70%

0.70%

2.61%

4.92%

-

5.81%

Lipper Category Avg. California Municipal Debt Funds

0.50%

0.50%

2.09%

4.33%

-

-

Bloomberg Barclays Municipal Bond Index

1.28%

1.28%

2.30%

3.82%

-

4.34%

Fund Expense Ratio :

0.59%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

Performance

Performance

Dividend Yield
1
as of
01/18/2019

30-Day Standardized Yield
2
as of
12/31/2018

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

0.59%

YTD

1-YR

3-YR

5-YR

10-YR

Since Inception 01/31/2011

w/o sales charge

0.70%

0.70%

2.61%

4.92%

-

5.81%

Lipper Category Avg. California Municipal Debt Funds

0.50%

0.50%

2.09%

4.33%

-

-

Bloomberg Barclays Municipal Bond Index

1.28%

1.28%

2.30%

3.82%

-

4.34%

Fund Expense Ratio :

0.59%

Fund Expense Ratio :

0.59%

YTD

1-YR

3-YR

5-YR

10-YR

Since Inception 01/31/2011

w/o sales charge

0.70%

0.70%

2.61%

4.92%

-

5.81%

Lipper Category Avg. California Municipal Debt Funds

0.50%

0.50%

2.09%

4.33%

-

-

Bloomberg Barclays Municipal Bond Index

1.28%

1.28%

2.30%

3.82%

-

4.34%

Fund Expense Ratio :

0.59%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance of future results.

Year

Fund Returns

Bloomberg Barclays Municipal Bond Index

2018

0.70%

1.28%

2017

6.93%

5.45%

2016

0.34%

0.25%

2015

3.84%

3.30%

2014

13.34%

9.05%

2013

-3.63%

-2.55%

2012

12.02%

6.78%

2011

13.91%

10.70%

Year

Q1

Q2

Q3

Q4

Yearly Returns

2019

-

-

-

-

0.28%

2018

-0.93%

1.28%

-0.30%

0.65%

0.70%

2017

2.00%

2.33%

1.06%

1.36%

6.93%

2016

2.09%

3.67%

0.02%

-5.22%

0.34%

2015

1.25%

-1.30%

1.75%

2.12%

3.84%

2014

4.71%

3.67%

2.44%

1.92%

13.34%

2013

0.63%

-3.86%

-0.77%

0.40%

-3.63%

2012

4.54%

1.84%

3.48%

1.68%

12.02%

2011

-

5.43%

3.68%

2.73%

13.91%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

NAV Historical Prices

Date

Net Asset Value

Portfolio

Portfolio

Sector

Assets

Transportation

IDR/PCR

Healthcare/Hospital

GO Local

Education

GO State

Special Tax

Water & Sewer

Lease

Power

Insured

Pre-Refunded

Housing

VRDN

Other

The Fund's portfolio is actively managed and is subject to change.

Maturity

Assets

<1 Year

1-3 Years

3-5 Years

5-7 Years

7-9 Years

9-12 Years

12-15 Years

15-18 Years

18-25 Years

25-30 Years

30+ Years

The Fund's portfolio is actively managed and is subject to change.

By State

Assets

CA

Puerto Rico

Other U.S. Territories

The Fund's portfolio is actively managed and is subject to change.

CREDIT QUALITY DISTRIBUTION as of 12/31/2018

Rating

Assets

A-1/MIG1

AAA

AA

A

BBB

< BBB

Not Rated

Ratings provided by Standard & Poor's, Moody's, and Fitch. Where the rating agencies rate a security differently, Lord Abbett uses the higher credit rating. For a security with both a short-term and a long-term rating, Lord Abbett has categorized the security in the chart above using its short-term rating only. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities are not rated. A-1/MIG1, A-2/MIG2 and A-3/MIG3 designations denote securities with less than a three-year maturity as well as superior (A-1/MIG1), strong (A-2/MIG2) and favorable (A-3/MIG3) credit quality. The credit quality breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Credit quality allocation reflects market value weightings.

Portfolio Positioning as of 12/31/2018

Relative to its benchmark, the Bloomberg Barclays Municipal Bond Index, the portfolio is underweight bonds in the 1- to 12-year maturity range, while maintaining an overweight to longer maturity bonds.

The portfolio is overweight the lower tiers of the investment grade range due to the incremental yield advantage and solid credit fundamentals.

The portfolio continues to maintain an overweight to revenue bonds, specifically in the transportation, health care, and industrial development sectors, given the dedicated income stream and favorable return prospects.

Portfolio Details
as of 12/31/2018

Average Coupon - The weighted average annual rate of interest on a bond’s face value that the issuer agrees to pay the holder until maturity for all the securities in a portfolio.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holdings

Coupon

Maturity

Assets

California Muni Fin Auth - LINXS

4.000%

12/31/2047

1.8%

Foothill Eastern Transportation Corridor Agency

6.000%

01/15/2049

1.7%

San Joaquin Hills Transportation Corridor Agency

5.000%

01/15/2050

1.7%

California State General Obligation

5.250%

10/01/2032

1.4%

Southern California Public Power Auth - Goldman Sachs

5.000%

11/01/2033

1.2%

Foothill Eastern Transportation Corridor Agency

6.000%

01/15/2053

1.2%

M-S-R Energy Auth - Merrill Lynch

7.000%

11/01/2034

1.2%

Foothill-Eastern Transp Corridor Agy, CA

3.950%

01/15/2053

1.1%

California State General Obligation

5.250%

04/01/2035

1.1%

M-S-R Energy Auth - Merrill Lynch

6.500%

11/01/2039

1.0%

% of Total Assets

13.4%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Holding

Coupon

Maturity

Assets

California Muni Fin Auth - LINXS

4.000%

12/31/2047

1.8%

Foothill Eastern Transportation Corridor Agency

6.000%

01/15/2049

1.7%

San Joaquin Hills Transportation Corridor Agency

5.000%

01/15/2050

1.7%

California State General Obligation

5.250%

10/01/2032

1.5%

Southern California Public Power Auth - Goldman Sachs

5.000%

11/01/2033

1.3%

Foothill Eastern Transportation Corridor Agency

6.000%

01/15/2053

1.2%

M-S-R Energy Auth - Merrill Lynch

7.000%

11/01/2034

1.2%

Foothill-Eastern Transp Corridor Agy, CA

3.950%

01/15/2053

1.1%

California State General Obligation

5.250%

04/01/2035

1.1%

M-S-R Energy Auth - Merrill Lynch

6.500%

11/01/2039

1.1%

California Statewide Comntys Dev Auth

5.000%

03/01/2048

1.0%

California State General Obligation

5.250%

08/01/2032

1.0%

County of Santa Barbara CA

5.000%

12/01/2036

0.9%

Long Beach Bond Finance Auth - Merrill Lynch

5.500%

11/15/2037

0.9%

Norman Y Mineta San Jose International Arpt SJC

5.000%

03/01/2047

0.9%

California Muni Finance Auth - Univ of San Diego

5.000%

10/01/2029

0.8%

New Haven Unif Sch Dist, CA

4.000%

08/01/2047

0.8%

Imperial Unif Sch Dist

5.250%

08/01/2043

0.8%

San Buenaventura - Comunity Memorial Health

8.000%

12/01/2031

0.8%

Los Angeles Unified School District

5.000%

07/01/2029

0.8%

Univ of California Bd of Regents

5.250%

05/15/2047

0.8%

Santa Ana Unif Sch Dist, CA

0.000%

04/01/2019

0.8%

California Muni Fin Auth

5.000%

05/15/2047

0.8%

Los Angeles, CA

5.250%

05/15/2048

0.8%

San Diego Cnty Regl Arpt Auth, CA

5.000%

07/01/2047

0.8%

California Statewide Comntys Dev Auth

5.250%

12/01/2034

0.8%

Local Public Schools Funding Authority School Impr

5.000%

08/01/2052

0.7%

California State Pub Wks Bd

5.750%

10/01/2031

0.7%

California Hlth Facs Fing Auth

5.500%

08/15/2033

0.7%

California Edl Facs Auth

5.000%

10/01/2053

0.7%

Los Angeles, CA

5.000%

05/15/2047

0.7%

Golden St Tobacco Securitization Corp.

5.000%

06/01/2047

0.7%

California State General Obligation

5.000%

02/01/2032

0.7%

California Hlth Facs Fing Auth

5.250%

11/01/2035

0.7%

California Infrastr & Econ Dev Bnk

5.250%

10/01/2034

0.7%

California Poll Cntrl Fin Auth

5.000%

11/21/2045

0.7%

California State General Obligation

5.500%

03/01/2040

0.7%

Foothill-Eastern Transp Corridor Agy, CA

5.750%

01/15/2046

0.7%

Bay Area Toll Auth, CA

4.000%

04/01/2038

0.7%

San Leandro Unif Sch Dist

5.250%

08/01/2046

0.7%

Poway Unif Sch Dist Pub Fing Auth, CA

5.000%

09/01/2035

0.7%

Northern California Gas Auth No 1

2.325%

07/01/2027

0.7%

Yosemite Community College District

0.000%

08/01/2042

0.6%

California

5.000%

08/01/2038

0.6%

Union City Comnty Redev Agy, CA

6.875%

12/01/2033

0.6%

Los Angeles Department of Pwr

5.250%

07/01/2037

0.6%

Casitas Muni Wtr Dist

5.250%

09/01/2047

0.6%

Univ of California Bd of Regents

5.250%

05/15/2058

0.6%

Temecula Valley Unif Sch Dist Fincg Auth, CA

5.000%

09/01/2035

0.6%

California Edl Facs Auth

5.000%

12/01/2044

0.6%

Riverside Cnty Transp Comm, CA

5.750%

06/01/2048

0.6%

Sonoma Marin Area Rail Transit Dist, CA

5.000%

03/01/2029

0.6%

Norman Y Mineta San Jose International Arpt SJC

6.250%

03/01/2034

0.6%

Alameda Corridor Transp Auth

5.000%

10/01/2036

0.6%

California

6.500%

04/01/2033

0.6%

Local Public Schools Funding Authority School Impr

4.000%

08/01/2052

0.5%

San Francisco City & Cnty Arpt Comm, CA

5.000%

05/01/2040

0.5%

Alameda Corridor Transp Auth

5.000%

10/01/2029

0.5%

Long Beach Bnd Fin Auth

5.250%

11/15/2020

0.5%

California Statewide Comntys Dev Auth

5.125%

05/15/2031

0.5%

San Francisco City & Cnty Redev Fing Auth, CA

6.625%

08/01/2039

0.5%

Los Angeles, CA

4.000%

06/01/2042

0.5%

San Francisco City & Cnty Port Comm, CA

5.000%

03/01/2030

0.5%

Silicon Vy Clean Wtr

4.000%

08/01/2046

0.5%

California State General Obligation

5.250%

10/01/2029

0.5%

M-S-R Energy Auth

6.125%

11/01/2029

0.5%

Palomar Hlth

5.000%

11/01/2039

0.5%

San Francisco City & Cnty Arpt Comm, CA

5.000%

05/01/2027

0.5%

Inland Valley Development Agency

5.250%

09/01/2037

0.5%

Grossmont Un High Sch Dist, CA

5.000%

08/01/2043

0.5%

California Statewide Comntys Dev Auth

5.000%

02/01/2035

0.5%

M-S-R Energy Auth

6.500%

11/01/2039

0.5%

Port of Oakland, CA

5.125%

05/01/2031

0.4%

Valley County Water District Financing Authority

4.500%

01/01/2048

0.4%

Irvine Unif Sch Dist Fincg Auth, CA

5.500%

09/01/2035

0.4%

West Contra Costa Unif Sch Dist, CA

6.000%

08/01/2027

0.4%

Los Angeles, CA

5.000%

05/15/2045

0.4%

Banning Unif Sch Dist

5.250%

08/01/2042

0.4%

San Francisco City & County Public Utilities Commi

4.000%

10/01/2043

0.4%

Cnty of Sacramento CA Arpt Sys Rev

5.000%

07/01/2041

0.4%

Golden St Tobacco Securitization Corp.

5.250%

06/01/2047

0.4%

Silicon Vly Tobacco Securitization Auth

0.000%

06/01/2041

0.4%

San Rafael City Elementary School District

4.500%

08/01/2042

0.4%

California Hlth Facs Fing Auth

5.000%

11/01/2047

0.4%

California Hlth Facs Fing Auth

4.000%

10/01/2047

0.4%

California Health Facs - Catholic Healthcare West

5.500%

07/01/2025

0.4%

Golden St Tobacco Securitization Corp.

5.000%

06/01/2047

0.4%

California Statewide Comntys Dev Auth

5.500%

12/01/2058

0.4%

California

4.000%

09/01/2035

0.4%

San Francisco Comnty Coll Dist, CA

5.000%

06/15/2028

0.4%

Ripon Unif Sch Dist, CA

5.500%

08/01/2043

0.4%

Puerto Rico

6.000%

07/01/2039

0.4%

Los Angeles Unif Sch Dist, CA

5.000%

07/01/2030

0.4%

Sweetwater Un High Sch Dist, CA

5.000%

08/01/2027

0.4%

Sacramento Cnty Tobacco Settlement Securitization

5.500%

06/01/2045

0.4%

Los Angeles, CA

5.000%

06/01/2044

0.4%

Southern California Pub Pwr Auth

5.000%

07/01/2038

0.4%

ABAG Fin Auth For Nonprofit Corps, CA

5.000%

07/01/2032

0.4%

Stockton Pub Fincg Auth, CA

5.000%

09/01/2029

0.4%

Long Beach, CA

5.000%

05/15/2028

0.4%

San Francisco City & Cnty Arpt Comm, CA

5.250%

05/01/2042

0.4%

California Muni Fin Auth

5.000%

06/01/2043

0.4%

San Francisco City & Cnty Redev Fing Auth, CA

6.750%

08/01/2041

0.4%

California Edl Facs Auth

5.000%

04/01/2039

0.4%

City of Irvine CA

5.000%

09/02/2028

0.4%

Irvine Unif Sch Dist Fincg Auth, CA

5.000%

09/01/2056

0.4%

Golden St Tobacco Securitization Corp.

5.000%

06/01/2029

0.4%

Los Angeles Harbor Dept, CA

5.000%

08/01/2036

0.4%

City of Sacramento CA Transient Occupancy Tax Reve

5.000%

06/01/2048

0.4%

San Diego Cnty Regl Arpt Auth, CA

5.000%

07/01/2027

0.4%

California Edl Facs Auth

5.000%

10/01/2038

0.4%

Tustin Comnty Fac Dist

5.000%

09/01/2037

0.4%

California Edl Facs Auth

5.000%

10/01/2048

0.4%

San Joaquin Hills Transp Corridor Agy, CA

5.000%

01/15/2029

0.4%

California Infrastr & Econ Dev Bnk

5.000%

11/01/2041

0.4%

Whittier, CA

5.750%

06/01/2029

0.4%

California Edl Facs Auth

5.000%

04/01/2040

0.4%

California State Pub Wks Bd

5.000%

12/01/2028

0.4%

Irvine Unif Sch Dist Fincg Auth, CA

5.000%

09/01/2038

0.4%

Simi Valley Unified School District

4.000%

08/01/2046

0.4%

Santa Maria, CA

5.000%

02/01/2027

0.4%

California Muni Fin Auth

6.750%

10/01/2028

0.4%

San Gorgonio Mem Hlth Care Dist

5.000%

08/01/2032

0.4%

California Cnty Tobacco Securitization Agy

5.700%

06/01/2046

0.4%

ABAG Fin Auth For Nonprofit Corps, CA

5.000%

08/01/2043

0.4%

Alameda Corridor Transp Auth

5.000%

10/01/2037

0.4%

California Muni Fin Auth

5.000%

08/15/2030

0.4%

California Muni Fin Auth - LINXS

5.000%

12/31/2043

0.4%

California Hlth Facs Fing Auth

5.000%

08/15/2047

0.4%

California State General Obligation

5.000%

02/01/2033

0.4%

California Statewide Comntys Dev Auth

5.000%

05/15/2035

0.4%

San Jose, CA

6.125%

05/01/2031

0.4%

Roseville, CA

5.000%

09/01/2031

0.4%

California Muni Fin Auth

5.000%

12/31/2047

0.4%

Los Angeles, CA

5.000%

05/15/2041

0.4%

Orange Cnty Comnty Facs Dist

5.250%

08/15/2045

0.4%

California Statewide Comntys Dev Auth

5.500%

12/01/2054

0.4%

Los Angeles, CA

5.000%

05/15/2046

0.4%

California Muni Fin Auth

5.000%

06/01/2036

0.4%

California Hlth Facs Fing Auth

5.000%

11/15/2029

0.4%

California State Pub Wks Bd

5.000%

04/01/2037

0.4%

Irvine Unif Sch Dist Fincg Auth, CA

5.000%

03/01/2057

0.4%

California Sch Fin Auth

5.000%

08/01/2038

0.4%

Antelope Valley Hlthcare Dist

5.250%

03/01/2036

0.4%

ABAG Fin Auth For Nonprofit Corps, CA

5.000%

11/15/2035

0.4%

California Statewide Comntys Dev Auth

5.000%

10/01/2045

0.4%

California Sch Fin Auth

5.000%

08/01/2046

0.4%

City of San Clemente, CA

5.000%

09/01/2040

0.4%

California Infrastr & Econ Dev Bnk

4.000%

02/01/2035

0.4%

San Diego Redev Agy, CA

7.000%

11/01/2039

0.4%

Chula Vista, CA

5.875%

01/01/2034

0.4%

California Statewide Comntys Dev Auth

7.000%

11/15/2029

0.4%

Marin Hlthcare Dist

4.000%

08/01/2040

0.4%

Orange Unified School District

4.000%

08/01/2047

0.3%

California Statewide Comntys Dev Auth

4.000%

07/01/2048

0.3%

Albany Unified School District

4.000%

08/01/2046

0.3%

Riverside Electric

5.000%

10/01/2027

0.3%

California Hlth Facs Fing Auth

4.000%

11/15/2042

0.3%

California Statewide Comntys Dev Auth

4.000%

12/01/2057

0.3%

Univ of California Bd of Regents

4.000%

05/15/2047

0.3%

Long Beach Bnd Fin Auth

3.183%

11/15/2026

0.3%

California Muni Fin Auth

4.000%

08/15/2037

0.3%

San Joaquin Hills Transp Corridor Agy, CA

5.250%

01/15/2049

0.3%

Lake Elsinore Public Fing Auth

5.000%

09/01/2035

0.3%

San Diego Tobacco Settlement Revenue Funding Corp

4.000%

06/01/2032

0.3%

San Benito High School District

0.000%

08/01/2043

0.3%

El Dorado Irr Dist, CA

5.250%

03/01/2039

0.3%

California Statewide Comntys Dev Auth

5.250%

10/01/2043

0.3%

Inland Empire Tobacco Securitization Auth

5.000%

06/01/2021

0.3%

San Diego Cnty Tobacco Asset Securitization Corp

5.000%

06/01/2037

0.3%

Foothill-Eastern Transp Corridor Agy, CA

0.000%

01/15/2033

0.3%

Santa Barbara Unif Sch Dist

4.000%

08/01/2036

0.3%

Guam Pwr Auth

5.000%

10/01/2034

0.3%

California Statewide Fing Auth

0.000%

06/01/2046

0.3%

Puerto Rico Sales Tax Financing Corp

5.250%

08/01/2041

0.3%

Grossmont Un High Sch Dist, CA

0.000%

06/01/2040

0.3%

Newport-Mesa Unif Sch Dist, CA

0.000%

08/01/2045

0.2%

Riverside Cnty Transp Comm, CA

0.000%

06/01/2028

0.2%

La Verne CA C.O.P.

5.000%

05/15/2029

0.2%

San Benito High School District

0.000%

08/01/2042

0.2%

California Sch Fin Auth

5.000%

07/01/2034

0.2%

Southern California Pub Pwr Auth

3.172%

11/01/2038

0.2%

San Benito High School District

0.000%

08/01/2041

0.2%

California Muni Fin Auth

5.000%

06/01/2048

0.2%

California Sch Fin Auth

5.000%

07/01/2045

0.2%

California

5.250%

10/01/2039

0.2%

Adelanto Pub Util Auth, CA

5.000%

07/01/2039

0.2%

San Joaquin Hills Transp Corridor Agy, CA

0.000%

01/15/2036

0.2%

Guam Waterworks Auth

5.500%

07/01/2043

0.2%

Brentwood Infrastr Fing Auth

5.000%

09/02/2036

0.2%

Newport-Mesa Unif Sch Dist, CA

0.000%

08/01/2041

0.2%

California Muni Fin Auth

5.000%

02/01/2040

0.2%

San Mateo, CA

5.500%

09/01/2044

0.2%

California Muni Fin Auth

5.000%

06/01/2050

0.2%

River Islands Public Fing Auth

5.500%

09/01/2045

0.2%

City of Irvine CA

5.000%

09/01/2044

0.2%

California Sch Fin Auth

5.000%

08/01/2045

0.2%

Santa Cruz Cnty Redev Agy, CA

7.000%

09/01/2036

0.2%

California

5.000%

09/01/2029

0.2%

Santa Cruz Cnty Redev Agy, CA

6.625%

09/01/2029

0.2%

Puerto Rico Sales Tax Fincg Corp

5.000%

08/01/2024

0.2%

California Statewide Comntys Dev Auth

5.000%

07/01/2046

0.2%

California Muni Fin Auth

5.000%

10/01/2032

0.2%

California Statewide Comntys Dev Auth

5.000%

07/01/2036

0.1%

Southwestern Comnty College Dist, CA

0.000%

08/01/2041

0.1%

Golden St Tobacco Securitization Corp.

0.000%

06/01/2047

0.1%

California Statewide Comntys Dev Auth

5.000%

07/01/2041

0.1%

California Statewide Comntys Dev Auth

5.500%

07/01/2039

0.1%

San Diego Cnty Tobacco Asset Securitization Corp

0.000%

06/01/2046

0.1%

California Muni Fin Auth

5.000%

10/01/2029

0.1%

Puerto Rico Elec Pwr Auth

7.000%

07/01/2040

0.1%

San Diego Cnty Tobacco Asset Securitization Corp

0.000%

06/01/2046

0.1%

Foothill Eastern Transportation Corridor Agency

5.500%

01/15/2053

0.1%

California Cnty Tobacco Securitization Agy

0.000%

06/01/2046

0.1%

California

1.300%

05/01/2034

0.1%

Puerto Rico Elec Pwr Auth

5.250%

07/01/2024

0.1%

Inland Empire Tobacco Securitization Auth

0.000%

06/01/2057

0.0%

Puerto Rico Elec Pwr Auth

5.250%

07/01/2033

0.0%

Silicon Vly Tobacco Securitization Auth

0.000%

06/01/2056

0.0%

US 20YR Treasury Future Mar 2019

-

-

0.0%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

For

YTD Dividends Paidas of 01/18/2019

$0

Dividend Frequency

Monthly (Daily Accrual)

Record Date

Ex-Dividend Date

Reinvest & Payable Date

Dividend

Reinvest Price

Daily

Daily

12/31/2018

$0.02984

$10.73

Daily

Daily

11/30/2018

$0.02996

$10.66

Daily

Daily

10/31/2018

$0.02943

$10.60

Daily

Daily

09/30/2018

$0.02967

$10.75

Daily

Daily

08/31/2018

$0.02935

$10.86

Daily

Daily

07/31/2018

$0.02902

$10.85

Daily

Daily

06/30/2018

$0.02944

$10.87

Daily

Daily

05/31/2018

$0.02921

$10.87

Daily

Daily

04/30/2018

$0.02938

$10.75

Daily

Daily

03/31/2018

$0.02891

$10.82

Daily

Daily

02/28/2018

$0.02984

$10.77

Daily

Daily

01/31/2018

$0.02884

$10.85

Upcoming Dividend Payment Dates

This section lists all anticipated income and Capital Gain distribution dates and any actual distributions are subject to adequacy of earnings and must be approved by the Board of Directors/Trustees. Please note that dates are subject to change.

Record Date

Ex-Dividend Date

Reinvest & Payable Date

Daily

Daily

01/31/2019

Daily

Daily

02/28/2019

Daily

Daily

03/31/2019

Daily

Daily

04/30/2019

Daily

Daily

05/31/2019

Daily

Daily

06/30/2019

Daily

Daily

07/31/2019

Daily

Daily

08/31/2019

Daily

Daily

09/30/2019

Daily

Daily

10/31/2019

Daily

Daily

11/30/2019

Daily

Daily

12/31/2019

Fees & Expenses

Fees & Expenses

Expense Ratioas of 12/31/2018

The net expense ratio takes into account contractual fee waivers/expense reimbursements that currently are scheduled to remain in place through 01/31/2019. For periods when fees and expenses were waived and/or reimbursed, the Fund benefited by not bearing such expenses. Without such fee waivers/reimbursements, performance would have been lower. In addition, the net expense ratio takes into account deductions for certain interest and related expenses from certain of the Fund's investments. Under accounting rules, the Fund recognized additional income in an amount that directly offsets these interest and related expenses. Therefore, the Fund's total returns and net asset value were not affected by such interest and related expenses.

Coming Soon.......

IMPORTANT INFORMATION

+

There is no minimum initial investment for (i) purchases through or by registered investment advisers (RIAs), bank trust departments, and other financial intermediaries otherwise eligible to purchase Class I shares that charge a fee for services that include investment advisory or management services or (ii) purchases by retirement and benefit plans meeting the Class I eligibility requirements as described in the prospectus. These investment minimums may be suspended, changed, or withdrawn by Lord Abbett Distributor LLC ("Lord Abbett Distributor").Class I shares minimum initial investment of $1,000,000, unless otherwise noted, applies to certain types of institutional investors as described in the prospectus.

1

Dividend Yield is a financial ratio that shows how much a mutual fund pays out in dividends each year relative to value with maximum sales charges and without sales charges. The dividend yield is calculated by annualizing the last dividend and dividing it by the fund’s net asset value with maximum sales charges and without sales charges.

2

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

5

The 30-day Standardized Subsidized yield reflects fee waivers in effect. Without such fee waivers, yields would be reduced.

6

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

IMPORTANT INFORMATION

A Note about Risk: The Fund invests a significant percentage of its assets in the securities of issuers in a single state. As a result, an investment in the Fund may be riskier than an investment in other, more diversified municipal bond funds. The value of an investment in the Fund will change as interest rates fluctuate in response to market movements. When interest rates rise, the prices of debt securities are likely to decline, and when interest rates fall, the prices of debt securities tend to rise. High-yield securities, sometimes called "junk bonds" carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. A portion of the income derived from the Fund's portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Federal, state, and local taxes may apply. There is a risk that a bond issued as tax-exempt may be reclassified by the IRS as taxable, creating taxable rather than tax-exempt income. The Fund may invest in bonds of issuers in Puerto Rico and other U.S. territories, commonwealths, and possessions, and may be affected by local, state, and regional factors. These may include, for example, economic or political developments, erosion of the tax base, and the possibility of credit problems. These factors can affect Fund performance.

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

Returns shown at less than a year reflect aggregate total returns.

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.

A portion of the income derived from the fund's portfolio may be subject to the alternative minimum tax. Any capital gains realized may be subject to taxation. Shareholders should consult with their tax advisers for more specific information on taxation.

The Bloomberg Barclays Municipal Bond Index a rules-based, market-value-weighted index engineered for the long-term tax-exempt bond market. Bonds must be rated investment-grade (Baa3/BBB- or higher) by at least two ratings agencies. They must have an outstanding par value of at least $7 million and be issued as part of a transaction of at least $75 million. The bonds must be fixed rate, have a dated-date after December 31, 1990, and must be at least one year from their maturity date.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

Expense Ratio: The net expense ratio takes into account a contractual management fee waiver/expense reimbursement agreement that currently is scheduled to remain in place through March 31, 2016. For periods when gross expenses exceeded the cap, the Fund benefited by not bearing certain expenses. Without such cap, performance would have been lower.

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

Select funds to run a Morningstar Hypothetical Report.

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Please review the address information below and make any necessary changes.

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You are leaving the Lord Abbett U.S. investor website and entering a Lord Abbett website intended for non-U.S. investors. If you are an investor located in the U.S., then the following website is not directed at you and you should not proceed.

You are leaving the Lord Abbett U.S. investor website and entering a Lord Abbett website intended for non-U.S. investors. If you are an investor located in the U.S., then the following website is not directed at you and you should not proceed.

You are leaving the Lord Abbett U.S. investor website and entering a Lord Abbett website intended for non-U.S. investors. If you are an investor located in the U.S., then the following website is not directed at you and you should not proceed.

Investors should carefully consider the investment objectives, risks, charges and expenses of the Lord Abbett Funds. This and other important information is contained in the fund's summary prospectus and/or prospectus. To obtain a prospectus or summary prospectus on any Lord Abbett mutual fund, you can click here or contact your investment professional or Lord Abbett Distributor LLC at 888-522-2388. Read the prospectus carefully before you invest or send money.

The information provided is not directed at any investor or category of investors and is provided solely as general information about Lord Abbett’s products and services and to otherwise provide general investment education. None of the information provided should be regarded as a suggestion to engage in or refrain from any investment-related course of action as neither Lord Abbett nor its affiliates are undertaking to provide impartial investment advice, act as an impartial adviser, or give advice in a fiduciary capacity. If you are an individual retirement investor, contact your financial advisor or other fiduciary about whether any given investment idea, strategy, product or service may be appropriate for your circumstances.